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Investment Behaviour
Type: Book
ISBN: 978-1-78756-280-6

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Book part
Publication date: 21 November 2016

Corinna Laube and Wouter van den Bos

Teenagers are typically described as impulsive and risk taking. Yet recent research shows that this observation does not hold in all contexts. Rather, adolescents show…

Abstract

Teenagers are typically described as impulsive and risk taking. Yet recent research shows that this observation does not hold in all contexts. Rather, adolescents show higher impulsivity and risk taking than children or adults in affective contexts. Motivational and affective processes are therefore of particular interest when trying to understand typical adolescent behavior. Additionally, pubertal hormones are hypothesized to play a special role in adolescents’ motivated decision making. However, evidence for the mechanisms underlying this relationship is sparse. In this chapter, we aim to integrate findings from human and animal studies in order to elucidate the specific impact of pubertal hormones on motivational processes in adolescence. Against this background, we critically discuss and reinterpret recent findings in psychology and neuroscience, speculate about underlying mechanisms, and suggest new approaches for future studies of adolescent behavior.

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Recent Developments in Neuroscience Research on Human Motivation
Type: Book
ISBN: 978-1-78635-474-7

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Book part
Publication date: 27 July 2012

James K. Summers, Timothy P. Munyon, Annette L. Ranft, Gerald R. Ferris and M. Ronald Buckley

Executives exert a pervasive influence on the organizations they lead. As such, scholars have long considered how to calibrate the risks inherent in executive decision…

Abstract

Executives exert a pervasive influence on the organizations they lead. As such, scholars have long considered how to calibrate the risks inherent in executive decision making, often relying on incentives and compensation to calibrate executive risk behavior. However, there are shortcomings that reduce the efficacy of this approach, largely because incentives and compensation do not alter the work environment itself, which play a significant role influencing executive risk behavior. Consequently, in this chapter, we propose a conceptualization that integrates executive risk-taking with work design, framing three central features of the strategic leader job and work environment that may be manipulated to channel and shape executive risk-taking. Specifically, accountability, discretion, and relationships are proposed as the key higher-order characteristics of the executive work context, and they are examined with respect to optimal calibration in order to maximize both executive performance and well-being, as well as organizational coordination and control. Implications of this conceptualization and directions for future research are discussed.

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Research in Personnel and Human Resources Management
Type: Book
ISBN: 978-1-78190-172-4

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Book part
Publication date: 25 May 2021

Alessandra Girlando, Simon Grima, Engin Boztepe, Sharon Seychell, Ramona Rupeika-Apoga and Inna Romanova

Purpose: Risk is a multifaceted concept, and its identification requires complex approaches that are often misunderstood. The consequence is that decisions are based on…

Abstract

Purpose: Risk is a multifaceted concept, and its identification requires complex approaches that are often misunderstood. The consequence is that decisions are based on limited perception rather than the full value and meaning of what risk is, as a result, the way it is being tackled is incorrect. The individuals are often limited in their perceptions and ideas and do not embrace the full multifaceted nature of risk. Regulators and individuals want to follow norms and checklists or overuse models, simulations, and templates, thereby reducing responsibility for decision-making. At the same time, the wider use of technology and rules reduces the critical thinking of individuals. We advance the automation process by building robots that follow protocols and forget about the part of risk assessment that cannot be programed. Therefore, with this study, the objective of this study was to discover how people define risk, the influencing factors of risk perception and how they behave toward this perception. The authors also determine how the perception differed with age, gender, marital status, education level and region. The novelty of the research is related to individual risk perception during COVID-19, as this is a new and unknown phenomenon. Methodology: The research is based on the analysis of the self-administered purposely designed questionnaires we distributed across different social media platforms between February and June 2020 in Europe and in some cases was carried out as a interview over communication platforms such as “Skype,” “Zoom” and “Microsoft Teams.” The questionnaire was divided into four parts: Section 1 was designed to collect demographic information from the participants; Section 2 included risk definition statements obtained from literature and a preliminary discussion with peers; Section 3 included risk behavior statements; and Section 4 included statements on risk perception experiences. A five-point Likert Scale was provided, and participants were required to answer along a scale of “1” for “Strongly Agree” to “5” for “Strongly Disagree.” Participants also had the option to elaborate further and provide additional comments in an open-ended box provided at the end of the section. 466 valid responses were received. Thematic analysis was carried out to analyze the interviews and the open-ended questions, while the questionnaire responses were analyzed using various quantitative methods on IBM SPSS (version 23). Findings: The results of the analysis indicate that individuals evaluate the risk before making a decision and view risk as both a loss and opportunity. The study identifies nine factors influencing risk perception. Nevertheless, it must be emphasized that we can continue to develop models and rules, but as long as the risk is not understood, we will never achieve anything.

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Contemporary Issues in Social Science
Type: Book
ISBN: 978-1-80043-931-3

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Article
Publication date: 10 May 2011

Desislava Ivanova Yordanova and Matilda Ivanova Alexandrova‐Boshnakova

The research objective of the study is to investigate the gender effects on risk propensity, risk perception, and risk behaviour of entrepreneurs distinguishing between…

Abstract

Purpose

The research objective of the study is to investigate the gender effects on risk propensity, risk perception, and risk behaviour of entrepreneurs distinguishing between direct and indirect gender effects. The study seeks to address the gap in the knowledge of the link between risk taking, risk propensity, and risk perception in the context of women and risk (Brindley).

Design/methodology/approach

Based on Sitkin and Pablo's model of risk behaviour and the literature on cognitive factors as determinants of risk perception, the paper provides hypotheses about the link between gender, risk perception, risk propensity, and risk behaviour. The proposed hypotheses are tested on a sample of 382 Bulgarian entrepreneurs.

Findings

Although female and male entrepreneurs have similar risk perceptions, female entrepreneurs are likely to have a lower risk propensity than male entrepreneurs. Risk propensity mediates completely the effect of gender on risk behaviour. The effect of gender on risk propensity is mediated partially by risk preference, outcome history, and age. Gender has an indirect effect on risk perception via overconfidence and risk propensity.

Research limitations/implications

The paper's ability to draw causal inferences is limited by the cross‐sectional nature of the study. The results may not be applicable to other countries and occupations.

Practical implications

The findings help to clarify the reasons for gender differences in risk behaviour and risk propensity of entrepreneurs and to design behavioural interventions.

Originality/value

This paper is an attempt to create a better understanding of the factors that account for gender differences in risk taking.

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International Journal of Entrepreneurial Behavior & Research, vol. 17 no. 3
Type: Research Article
ISSN: 1355-2554

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Article
Publication date: 16 November 2018

Jia Liu, Frida Thomas Pacho and Wang Xuhui

The purpose of this paper is to empirically explore the impact of culture (using individualism, power distance and uncertainty avoidance) on entrepreneurial risk taking…

Abstract

Purpose

The purpose of this paper is to empirically explore the impact of culture (using individualism, power distance and uncertainty avoidance) on entrepreneurial risk taking behavior which leads to the opportunity exploitation decision. Moreover, it also uses risk taking behavior of entrepreneurial as the mediation variable between culture and opportunity exploitations decisions.

Design/methodology/approach

The study took place in Tanzania, which is allocated in East Africa and is one of under researched countries. In total, 140 entrepreneurs who own venture of 5-99 employees were able to be interviewed using a survey questionnaire. In this study, structural equation modeling (SEM) was used to examine the direct and indirect relationship of culture in entrepreneurial opportunity exploitation decisions.

Findings

After hypothesis testing, the empirical results showed that Tanzania’s culture has an impact on entrepreneurial risk taking behavior, which influences entrepreneurial opportunity exploitation decision. It also showed culture through individualism and uncertainty avoidance measurements affect entrepreneurial opportunity exploitation decisions. The empirical results on power distance were insignificant.

Research limitations/implications

This study is a wake-up call to policy makers and formal institutions such as government authorities, education institutions and religion institutions. Thus, culture has an ability to influence the behavior of entrepreneurs and so the performance of ventures if it is consistent and well structured. Therefore it should be not taken for granted. Data for our study are based on only two cities and therefore the results should not be generalized as the whole country’s inference. Generalizability is questioned because the data are from only two cities in Tanzania and therefore future research should include more cities to be able to validate the generalizability.

Practical implications

This study is a wake-up call to policymakers and formal institutions such as government authorities, education institutions and religion institutions. Thus culture has an ability to influence the behavior of entrepreneurs and so the performance of ventures if it is consistent and well structured. Therefore it should be not taken for granted. Data for our study are based on only two cities and therefore the results should not be generalized as the whole country’s inference.

Social implications

In the country which has well-structured culture, influence the behavior of entrepreneurs to exploit opportunities.

Originality/value

This is the first empirical study to use SEM for exploring the culture of individualism, power distance and uncertainty avoidance impact on entrepreneurial opportunity exploitation in Tanzania.

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Journal of Entrepreneurship in Emerging Economies, vol. 11 no. 1
Type: Research Article
ISSN: 2053-4604

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Article
Publication date: 22 October 2019

Ahmad Rashid and Halim Boussabiane

The purpose of this paper is to analyze the existing project management literature by conceptualizing the influence of personality and cognitive traits on project…

Abstract

Purpose

The purpose of this paper is to analyze the existing project management literature by conceptualizing the influence of personality and cognitive traits on project managers’ risk-taking behaviour.

Design/methodology/approach

The paper is based on an in-depth analysis of the existing literature to develop framework for conceptualizing risk propensity in project management.

Findings

The results indicate that the Big Five personality traits cannot capture risk propensity in risk-taking behaviour on their own. Cognitive traits are indispensable components in risk propensity.

Research limitations/implications

The paper examines the association between risk propensity theories and personality traits. The paper framed project managers’ personality traits that can impact their tendency to take risky decisions, that is risk propensity.

Originality/value

This paper expands literature by increasing our understanding of personality and cognitive traits in risk propensity.

Details

International Journal of Managing Projects in Business, vol. 14 no. 2
Type: Research Article
ISSN: 1753-8378

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Article
Publication date: 20 June 2017

Pingying Zhang and Kevin W. Cain

Entrepreneurial intention is regarded as a useful and practical approach to understanding actual entrepreneurial behavior. Planned behavior has been widely applied to…

Abstract

Purpose

Entrepreneurial intention is regarded as a useful and practical approach to understanding actual entrepreneurial behavior. Planned behavior has been widely applied to examine entrepreneurial intention. Nevertheless, how risk aversion affects entrepreneurial intention using the model of planned behavior is not well understood. The purpose of this paper is to develop an integrated model based on planned behavior to examine the direct and indirect effect of risk aversion on entrepreneurial intention concurrently.

Design/methodology/approach

The paper first uses factor analysis to study the latent constructs underlying determinants of planned behavior, risk aversion, and entrepreneurial intention. Then, it applies the technique of structural equation modeling to explore relationships among latent constructs. There are 306 survey responses collected from dental school students to run the analysis.

Findings

The determinants of planned behavior are positively associated with entrepreneurial intention. There is no direct relationship between risk aversion and entrepreneurial intention. Risk aversion only indirectly reduces entrepreneurial intention through determinants of planned behavior.

Research limitations/implications

The results of the integrated model may be constrained by the sample context of dental students. Replicating the model by using other samples with various educational backgrounds can strengthen the implication of the study. Another limitation is the weakness of the cross-sectional study design, leaving room for improvement by using longitudinal data in the future.

Practical implications

Risk aversion only indirectly reduces entrepreneurial intention. To establish an environment with a strong entrepreneurial intention, a focus on developing a positive attitude and strengthening entrepreneurial skills are perhaps more fruitful than lowering risk aversion. This study also suggests that non-business students may need additional business education to improve the perception of self-efficacy.

Originality/value

The integrated model of this paper is original. The development of the model draws support from planned behavior adjusted to the context of starting a business.

Details

International Journal of Entrepreneurial Behavior & Research, vol. 23 no. 5
Type: Research Article
ISSN: 1355-2554

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Article
Publication date: 8 February 2013

Alan Meaden, David Hacker and Kerry Spencer

Predicting the imminence of high risk behaviours in in‐patients with schizophrenia is an ongoing concern. The purpose of this paper is to explore the utility, validity and…

Abstract

Purpose

Predicting the imminence of high risk behaviours in in‐patients with schizophrenia is an ongoing concern. The purpose of this paper is to explore the utility, validity and reliability of an adapted early warning signs methodology for dynamic risk assessment.

Design/methodology/approach

Nursing staff were interviewed to identify operationally defined early warning signs of high risk behaviours. Frequency of occurrence of the early warning signs and the high risk behaviour were rated over a one week period to establish the predictive validity of the methodology.

Findings

Support was found for the reliability of staff ratings of the relevance of identified early warning signs and their occurrence within a specified time period. ROC analysis indicates some modest predictive validity in predicting aggressive risk behaviours but effect sizes were small, and there were high rates of false positive predictions.

Research limitations/implications

The small sample size limits generalisability. A longitudinal prospective study to better establish the added predictive power of the method over the use of largely actuarial methods is needed.

Originality/value

A dynamic risk assessment methodology to assess changes in risk for inpatients would benefit both staff and inpatients. No such methodology has been assessed to date.

Details

The Journal of Forensic Practice, vol. 15 no. 1
Type: Research Article
ISSN: 2050-8794

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Article
Publication date: 14 November 2016

Wayne D. Kearney and Hennie A. Kruger

The purpose of this paper is to discuss and theorise on the appropriateness and potential impact of risk homeostasis in the context of information security.

Abstract

Purpose

The purpose of this paper is to discuss and theorise on the appropriateness and potential impact of risk homeostasis in the context of information security.

Design/methodology/approach

The discussion is mainly based on a literature survey backed up by illustrative empirical examples.

Findings

Risk homeostasis in the context of information security is an under-explored topic. The principles, assumptions and methodology of a risk homeostasis framework offer new insights and knowledge to explain and predict contradictory human behaviour in information security.

Practical implications

The paper shows that explanations for contradictory human behaviour (e.g. the privacy paradox) would gain from considering risk homeostasis as an information security risk management model. The ideas discussed open up the prospect to theorise on risk homeostasis as a framework in information security and should form a basis for further research and practical implementations. On a more practical level, it offers decision makers useful information and new insights that could be advantageous in a strategic security planning process.

Originality/value

This is the first systematic comprehensive review of risk homeostasis in the context of information security behaviour and readers of the paper will find new theories, guidelines and insights on risk homeostasis.

Details

Information & Computer Security, vol. 24 no. 5
Type: Research Article
ISSN: 2056-4961

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